Money laundering case booked against suspended DSP Bheem Reddy

The ED has registered a money laundering case against suspended DSP S Bheem Reddy following an ACB probe into alleged disproportionate assets worth around Rs 300 crore. Investigators are examining property ownership, money trails, financial transactions and alleged benami holdings.

Hyderabad: The Directorate of Enforcement (ED) had booked a money laundering case against suspended DSP S Bheem Reddy following the Anti-Corruption Bureau’s (ACB) detection of disproportionate assets worth around Rs 300 crore during searches conducted earlier this July.

The ED has begun examining the alleged money trail, including the actual ownership of properties, the source of funds used for their purchase and whether assets were acquired in the names of relatives, associates or alleged benamidars.

---

As part of the probe, officials are expected to also look into whether money allegedly generated through corruption was routed through different channels and subsequently converted into properties and other assets.

The Income Tax Department’s Benami Prohibition Unit has already registered a case. Details of properties and financial transactions being gathered by the ACB, ED and Income Tax Department are expected to play a key role in establishing the ownership and source of funds.

Bheem Reddy, who was posted with Police Computer Services (PCS), was arrested by the ACB on July 6 from his residence at Vessella Meadows, Ibrahimbagh.

During searches at 16 locations linked to him, his relatives and alleged benamidars in Telangana and Karnataka, officials reportedly seized property documents, Rs 3.6 lakh in cash from his residence, and Rs 40 lakh from the house of an alleged benamidar.

Around 2 kg of gold, 20 kg of silver and bank balances of nearly Rs 19.91 lakh were also reportedly identified.

The ED is likely to issue notices to Bheem Reddy after completing its preliminary probe. Persons suspected of being his benamidars are also expected to be summoned for questioning. Further action will be based on the findings of the investigation.